Toyota recall list growing : Beginning of End of a Giant ?

This was inevitable.As Toyota's recall list keeps growing, a steadily growing number of consumers are opting to buy their vehilcles from other automakers.

In a recent survey data, there were 27 percent people who said that they were considering buying a Toyota before recall but were no longer wanting to do it.This was an increase of 6 percentage points as this number stood at 21 percent in the week before, after Toyota's recall announced initially.

As a result the the value of both used and new Toyota vehicles is getting lower.

Juan Flores, Director of vehicle valuation at Kelley Blue Book said in a statement,“The softening of values is a product of weakened consumer demand and the realization that Toyota is going to have to offer lower prices to get some consumers to consider Toyota vehicles again.”  

The latest in Toyota Recall saga is that Toyota Motor Corp is planning to recall 8,000 Tacoma pickups due to possible cracks in a common drive shaft component that Ford Motor Co and Nissan Motor Co Ltd said posed no safety risk to their vehicles.

Toyota's decision to recall the 2010 model Tacoma pickup trucks in the United States is third in a series of recalls that the company announced in close succession past few day. The Tacoma pickup recall was the latest in a series of recalls that have hurt the automaker's sales and its reputation for quality.

Situation clearly calls for a deep analysis and you can't help wonder if it is not the beginning of the end of a Giant that was once right at the top.